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to avoid being blamed for rates rising on most taxpayers and going over the fiscal cliff? >> well, a couple thing, ali. first of all, i think the outlines of that deal you just described are probably where they're headed, although i don't think that mitch mcconnell and harry reid -- i hear they're negotiating maybe a little higher income threshold, so maybe not $250,000, maybe $400,000 or $500,000. even the president put that on the table a couple weeks ago. i was pleased to hear jessica said she think wes ear inching towards an agreement. i don't want to go over this cliff. i think it would be a mistake politically and economically to do that. but i want to let your viewers know that this is not a fight about small things. it's a fight about big, big ideas, about what our entitlement programs are going to look like, what is our tax system going to look like, how much are we going to spend on all these programs. these are deep ideological divisions between the two parties. i hate to see it come to the edge of this cliff, but the ideas here that we're fighting about are of major significance
. >>> the biggest issue in all the fiscal cliff wrangling is taxes. it's not the most important issue, but it's the central one. grover norquist told you his strong opposition to any tax increases of any sort. many republicans share his view. let's look at the economy. obviously across the board tax increases would hurt the economy. but what will the real economic reaction be to small tax increases on the wealthiest americans? now, annie lowrie of the "new york times" is still with us. i always have to make sure my viewers understand i am not advocating for tax increases on the rich. i want to explain what could happen. i want to bring in jean zahadi, a senior writer at your money and kevin haslett of the american enterprise institute. he was the author of much of mitt romney's economic policies. a good friend of the show. jean, let me start with you. tax increases on people making more than 250,000 a year. let's use that as a number. it might be 400,000, it might be half a million. it might be a million. let's take $250,000. if you increase taxes, the marge nalt tax rate from 35% to 39.6% on
Search Results 0 to 1 of about 2